Common people are confused over the issues relating to return filing. Their main concern is regarding the exempted limit of return filing. As we are aware of the fact that Government has exempted individuals from filing return those whose salary income is less than Rs. 5 Lakhs. But in this article Taxmantra is advising you to always file your return even if your salary income is less than Rs. 5 Lakhs. Some of the benefits/reasons for filing return even if the salary income is less than 5 Lakhs are here under:

• An individual who has income from multiple employers or FD/term deposit interest or house, wherein he/she is claiming deduction would need to file his/her tax return
• You need to file your return to declare Saving Bank Account Interest Income of ending march to the employer before year ending to deduct the TDS
• To manage to create the financial record with the tax department, you need to file your return.     This financial/tax history is positively viewed and favorably used by most agencies with whom you may need to interact, such as when you any kind of loan (home, personal, vehicle loan, etc.,) , when you apply for VISA, etc.
• If you file your return, it would act as a Proof of financial life. It is essential for making any investment and goes to prove that you have a valid source of income to make such payment.

Thus, considering the above points it can be summed up that one should file return even if salary is less than Rs. 5 Lakhs.